Midway through trading Monday, the Dow traded up 1.16% to 33,536.76 while the NASDAQ rose 1.37% to 13,664.49. The S&P also rose, gaining 1.34% to 4,073.58.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 30,706,120 cases with around 555,000 deaths. Brazil reported over 12,984,950 COVID-19 cases with 331,430 deaths, while India confirmed a total of at least 12,589,060 cases and 165,100 deaths. In total, there were at least 131,370,250 cases of COVID-19 worldwide with more than 2,854,150 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Consumer discretionary shares rose 2% on Monday. Meanwhile, top gainers in the sector included Leaf Group Ltd. LEAF, up 21%, and Target Hospitality Corp. TH, up 18%.
In trading on Monday, energy shares fell 1.4%.
Top Headline
The ISM services PMI climbed to record high level of 63.7 in March from 55.3 in February. However, analysts were expecting a reading of 59.
Equities Trading UP
Leaf Group Ltd. LEAF shares shot up 21% to $8.52 as the company agreed to be acquired by Graham Holdings Company for $8.50 per share in all-cash transaction valued at $323 million.
Shares of Chembio Diagnostics, Inc. CEMI got a boost, shooting 51% to $5.32 after the company announced the commercial launch of a test to differentiate between COVID-19 and the Flu.
Nano-X Imaging Ltd. NNOX shares were also up, gaining 24% to $51.10 after the company announced on Friday its single-source Nanox.ARC digital x-ray technology has received 510(k) clearance from the FDA.
Check out these big movers of the day
Equities Trading DOWN
Molecular Templates, Inc. MTEM shares tumbled 26% to $9.17. The company announced plans to prioritize next-generation ETB candidates.
Shares of ACADIA Pharmaceuticals Inc. ACAD were down 17% to $21.13 after the FDA issued a Complete Response Letter (CRL) to Acadia Pharmaceuticals regarding its supplemental marketing application for Nuplazid (pimavanserin) for the treatment of hallucinations and delusions associated with dementia-related psychosis (DRP).
New Concept Energy, Inc. GBR was down, falling 10% to $4.70 after climbing 22% on Thursday. The company, last week, reported Q420 net loss of $32,000.
Commodities
In commodity news, oil traded down 2.7% to $59.81, while gold traded up 0.1% to $1,729.90.
Silver traded up 0.2% Monday to $24.99 while copper rose 3.4% to $4.1270.
Euro zone
European markets were closed on Easter Monday.
Economics
The IHS Markit services PMI was revised higher to 60.4 in March from a preliminary reading of 60.0.
US factory orders fell 0.8% for February.
The ISM services PMI climbed to 63.7 in March from 55.3 in February.
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